NTPC is a recent add to my PF because of
(1) recent win of 470MW solar project - they plan to take their renewable portfolio from 17% of the total capacity to ~40% in the next 10 years. PE multiple will expand from current multiple of 7-8 to 14-16 (given low interest rates this should be the multple for any company that offers an perpetual annuity of cash flows)
(2) On track to an EPS of 14 this year, which itself will take the price to 110 if market remains stable
(3) Power demand to keep rising in the next 2 years as impact of global stimuli hits the economies taking discretionary spendings and industrial activity to higher than pre-covid levels (more washing machines / dishwashers, fans, more industrial activity = more power consumption)
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